Posts Tagged ‘HR 4078’

We are, literally, throughout the world this week (though we plan to call it a wrap with some laughs in Los Angeles this weekend). “Laughs?” you say? We know. We are policy nerds. How could we possibly be funny?! The answer is: We can’t. Luckily though, we have some ALL-STAR comedians to help us out. But more on that later!

Right now, let’s refocus on Melinda St. Louis of Public Citizen’s Global Trade Watch. Melinda is currently participating in the 13th Quadrennial Conference of the United Nations Conference on Trade and Development in Doha, Qatar. There, St. Louis will be featured on a panel centered on state’s rights. Trade agreements should not undermine trading countries own laws. For example, the U.S. should have the right to pass laws banning clove cigarettes that pose significant health threats and are disproportionately targeting American youth, undermining years of work on curbing teen smoking.

In addition to this, Public Citizen is also sponsoring two symposia at Doha. The title of the first, “Safeguarding development and the public interest from investment provisions in trade and investment agreements,” had this Lady Liberty rushing to find a translation. Turns out, this symposium is focused on investor-state clauses, (shorter but still unclear, right?). Take two: Investor-state clauses in trade deals are troubling aspects of trade pacts that essentially give corporations special rights and their own private judicial system. These “investment provisions” are used by companies to sue governments and challenge all sorts of regulations from environmental, to health and even financial regulations … and that brings us to symposium No. two: “Safeguarding stability: Ensuring coherence between financial re-regulation and global trade rules.” In essence, you know all the Wall Street reform legislation that was enacted by Congress? Well, it appears that U.S. Rep. Darrell Issa (R-Calif.) may not be the only barrier we may run into in getting these reforms enacted and working so that we can protect ourselves from the next economic crash. Gretchen Morgenson of the The New York Times writes of the sad reality that Public Citizen’s Lori Wallach has been ringing an alarm about for some time: “According to the W.T.O., 125 of its 153 member countries have made varying degrees of commitments to the financial services agreement. Now, these pledges could easily be used to undermine new rules intended to make financial systems safer.” For more on this issue please see this portal.

Today, Public Citizen sent a letter to lawmakers on Capitol Hill, urging lawmakers to pass the “Democracy Is Strengthened by Casting Light on Spending in Elections” or DISCLOSE Act. The letter was signed by several dozen groups, ranging from campaign finance reform advocates, and transparency organizations to business ethics and investor groups. The need for disclosure of campaign expenditures is more important than ever following the 2010 U.S. Supreme Court Citizens United v. Federal Election Commission (FEC) ruling that opened the floodgates to unlimited corporate spending to influence elections. When it comes to campaign finance law, the cardinal rule is that citizens are entitled to know the names of donors who are financing campaigns and trying to influence their votes, and the amounts they give. We are pushing for disclosure both on a legislative level and through the unique work of the Corporate Reform Coalition, which has put a spotlight on the role the Securities and Exchange Commission, as the protectors of shareholder interests, ought to be playing in forcing corporations to disclose their political spending.

Of course, the other half of this story is stopping this outrageous spending! With major victories last week both on Capitol Hill and in the state of Vermont, Public Citizen’s Democracy Is For People campaign is plowing forward on the fight for a constitutional amendment to overturn the Citizens United ruling and get our elections and democracy taken off the auction block. In this week’s California Progress Report, Jonah Minkoff-Zern, senior organizer with our Democracy Is For People campaign writes, “Vermont Was Third. Will California Be Next?” Thanks to Jonah’s work alongside Public Citizen activists and allies the answer is likely, yes! Stay tuned to CitizenVox for more in the coming weeks on California.

This Week in the Halls of Power has already been a busy one for us here at Public Citizen! But what’s new, right? By now you’re probably aware that a good public interest watchdog never sleeps!

Something else that never sleeps? Money. Yes, there’s some truth to that iconic Gordon Gekko line! And, we’ve seen it manifest in the watered-down House version of the Stop Trading on Congressional Knowledge (STOCK) Act. (See this piece by Public Citizen President Robert Weissman for details). Yesterday, we delivered a message from more than 46,000 people to U.S. Sen. Harry Reid (D- Nev.) and House Speaker John Boehner (R-Ohio) calling for a stronger STOCK Act, a piece of legislation we have long fought for. In its original Senate version, the STOCK Act would stop congressional insider trading. However, in the House form of the bill that Rep. Eric Cantor (R-Va.) pushed for, a key provision calling for political intelligence consultants to register as lobbyists was stripped. out This will not do! By the overwhelming response we got on our petition drive, we saw that clearly, citizens want a strong STOCK Act.

People also want commonsense health, safety and environmental safeguards. Just think Wall Street, BP and Massey Energy . . . got regs? Yes, regulations, those so-called “job killers” that aren’t actually job killers. It’s time to put an end to the war on commonsense safeguards. Yesterday, Public Citizen President Robert Weissman testified before the House Committee of the Judiciary Subcommittee on Courts, Commercial and Administrative Law regarding a horrible bill, H.R. 4078, which would put a moratorium on new regulations for the next five years. Check out his written testimony and more information about several other outrageous bills at www.sensiblesafeguards.org, a large coalition that we lead with OMB Watch.